In New York on Monday, prices struck their lowest levels since 2002, with WTI briefly falling below $20 Oil prices clawed back some ground in Asian trade Tuesday after falling to 18-year lows, as the coronavirus pandemic brings economies worldwide to a standstill and throttles demand.
US benchmark West Texas Intermediate rose 2.9 percent to just over $20 a barrel while Brent crude, the international benchmark, was up 0.5 percent at nearly $23 a barrel.
In New York on Monday, prices struck their lowest levels since 2002, with WTI briefly falling below $20. Oil markets have plunged as governments across the planet introduce lockdowns to stem the spread of the virus, hammering demand for the commodity.